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Twin City Development Foundation pledges $400,000 as district seeks debt relief; county sets conditional forgiveness terms
Summary
Twin City Development Foundation approved a $400,000 emergency contribution for debt repayment; Forsyth County commissioners adopted a resolution to forgive county debt up to $5,026,000 conditional on private donations used to retire DPI/vendor debt and timelines for receipt and verification.
At the Oct. 14 Winston Salem / Forsyth County Schools meeting, Robert Clark, board chair of the Twin City Development Foundation, announced the foundation had approved a $400,000 emergency contribution to the district to be distributed in two equal installments and earmarked for debt repayment.
Clark read a statement that said the board “approved a $400,000 emergency contribution to the Winston Salem Forsyth County School System” and that the funding would be distributed in two equal installments, one this month and the other in January 2026, “and is earmarked specifically for debt repayment.” He presented a copy of his letter and a list of the foundation’s board members to the board chair.
At the same meeting, interim Superintendent Caddy Moore gave the board an extended budget update reporting the district’s current debt picture and recent actions by county officials. Moore said the district’s estimated final deficit stands at about $37.4 million and summarized vendor debts that must be addressed in the…
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